- Not enactedThe President has not signed this bill
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- The house has not voted
Committee on Energy and CommerceEnergyCommittee on Science, Space, and TechnologyIntroducedJanuary 14th, 2013
- house Committees
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SMART SALE Act of 2013
To require reports on the acquisitions by certain foreign persons of companies that have received American taxpayer research and development funding, and for other purposes.
Stop Mergers, Acquisitions, and Risky Takeovers Supplied by American Labor and Entrepreneurship Act of 2013 or the SMART SALE Act of 2013 - Requires any person, company, institution, or other entity engaged in interstate commerce that owns, licenses, or otherwise holds an interest in a federally-funded technology, or to which federal energy research and development funding has been obligated by a federal agency (covered entity), to notify the Secretary of Energy (DOE) not later than seven days after entering into negotiations for any proposed or pending merger, acquisition, takeover, or other transfer that could result in control of such covered entity by: (1) the government of the Peoples's Republic of China, the Democratic People's Republic of Korea, or a country that is a state sponsor of terrorism or that provides sanctuary to a foreign terrorist organization; (2) a citizen of such a country who owes permanent allegiance to such country; or (3) a corporation or other legal entity which is 50% owned by a citizen of such a country.